EU asks WTO for sanctions against US
(GENEVA) - The European Union is seeking 311 million dollars (223 million euros) in sanctions on US imports in retaliation against US anti-dumping measures, a document on the WTO website showed Wednesday.
The sanctions will "take into account the direct trade loss caused by the WTO inconsistent measures," as well other damage to EU trade, said the document on the World Trade Organisation website.
Brussels is asking the trade body to approve either punitive tariffs of 100 percent on 311 million dollars worth of US exports to the EU, or a tax of 13.18 percent on annual trade of 477 million dollars in selected goods.
In its complaint against the US, originally filed in 2004, the EU had targeted the way the United States calculates the degree of dumping, using a controversial and complex method known as "zeroing."
Brussels argued that by applying the method, the United States increased its estimate of the degree of dumping in its markets.
Dumping involves the sale of items abroad at less than the cost price in their domestic market.
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